MetaTrader 4 USER GUIDE - ECN | FXCC

1 MetaTrader4 USER GUIDES ummaryMetaTrader 4 USER GUIDEMetaTrader4 USER GUIDE2 SummarySummary1. Installing MetaTrader 4 .. Using MetaTrader 4 .. Charts .. Trading Operations .. Market Orders .. Pending Orders .. Modifying and Closing a Position .. GUIDEMetaTrader4 USER GUIDE3 SummaryInstalling MetaTrader 4 Once you have downloaded the MT4 executable program and saved this to your desktop, installation is fast and Double-click the MetaTrader exe file to install. This follows the same method for installing any Windows Click the Next button after reading the notification message:3. You now need to click the box marked Yes, I agree with all the terms of this license agreement . Once that has been clicked, you can then proceed by clicking the Next GUIDE4 Summary4.

2 Select the correct installation folder on your computer, the click the Next button:MetaTrader4 USER GUIDEMetaTrader4 USER GUIDE5 Summary5. As the program is being installed on your computer, the installation progress bar will Then press the Finish GUIDE6 SummaryUsing MetaTrader 4 The opening screen of your FXCC MetaTrader 4 platform will look like the image below. Main menu (access to the program menu and settings); Toolbars (quick access to the program features and settings); Market Watch window (real-time quotes for the specified instruments); Navigator window (quick access to all your accounts, indicators, expert advisors); Chart window; Terminal window (quick access to the trading and account history, list of open positions and placed orders, client terminal log-file and internal mailbox).

3 MetaTrader4 USER GUIDEMetaTrader4 USER GUIDE7 SummaryThe Market Watch WindowMarket Watch can be activated through a variety of routes: Ctrl+M key combination View->Market Watch menu sequence The button from the Standard toolbar:Right click the mouse button on the Market Watch window to open the context menu: New Order opens a dialog window toopen/close a position or to place a new trade; Chart Window opens the chart of a currency pair Tick Chart displays the tick chart for the selected instrument; Hide removes the selected symbol from the list in the Market Watch window; Hide All removes all symbols from the list in the Market Watch window which are not in use (if you have open positions or charts, corresponding symbols will not be removed); Show All displays all available symbols in the Market Watch window; Symbols opens a window to hide/show the selected instruments;MetaTrader4 USER GUIDE8 Summary Sets saves/adjusts/deletes any custom settings for the Market Watch window; High/Low shows/hides columns with the highest and lowest prices for each instrument; Time displays the latest quote for each instrument; Grid - hides/displays gridlines in the Market Watch window.

4 Popup Prices opens a popup window which contains real time quotes for your selected MetaTrader 4, you can view as many charts as you wish on one screen. These charts can be for any instrument and any time period. MetaTrader 4 includes the following chart types:Line Chart. Horizontal axis displays the various time periods, vertical axis displays the GUIDEMetaTrader4 USER GUIDE9 SummaryBar Chart. Each bar on the chart displays a high price (top), a low price (bottom), an opening price (horizontal line left) and a closing price (horizontal line right) over the selected time These charts are formatted the same way as Bar Charts and display the same information. High, Low, opening and closing prices over the selected time GUIDE10 SummaryIn MetaTrader 4 Bar and Candle charts follow the same nomenclature:High Point is the highest Bid price for selected time periodLow Point is the lowest Bid price for the selected time periodOpening Price is the first quoted Bid for the time periodClosing Price is the last quoted Bid for the time periodIn order to create a new chart for any instrument right click on the Market Watch window, then select the Chart window item from the context menu: MetaTrader4 USER GUIDEMetaTrader4 USER GUIDE11 SummaryCurrency pairs can be added onto vacant chart windows simply by dragging and period the period of time corresponding to each bar or candle.

5 Creating a 5 minute Bar Chart for example will display bars with price information over a 5 minute 4 supports the following time periods:M1 1 minuteM5 5 minutesM15 15 minutesM30 30 minutesH1 1 hourH4 4 hoursD1 1 DayW1 1 WeekMN 1 MonthRight click anywhere on the chart to bring up the context menu to get access to the chart settings:MetaTrader4 USER GUIDE12 Summary Choose Periodicity and select a time period from the drop down Select Refresh item if an error occurs. Any missing data will be accessed from the server and will appear on the chart; Select Grid if you wish to hide/unhide gridlines on the chart; Select Volumes in order to show/hide tick volume Zoom in / Zoom out will help you to modify chartmeasures. Save as will save the chart as a gif or bmpimage file; (or the F8 button) allows you to personalize your chart settings.

6 The Color tab displays all the options for chart color GUIDEMetaTrader4 USER GUIDE13 SummaryOther settings can be changed in the Common tab of the Properties available options: Offline chart - the chart is not being automatically updated. Chart shift used for moving the current chart inside the chart window. Chart auto-scroll scrolls the current chart to the left of the chart window as new quotes arrive in the OperationsOpening a positionOpening the Order window can be done in a variety of ways: By right clicking on the Market Watch window or on the Trade tab of the Terminal window and select New order from the available menu pressing the F9 buttonMetaTrader4 USER GUIDE14 Summary using the Tools -> New order menu sequence right clicking on the chart window and select Trading -> New Order from the context menu double clicking on the currency pair in the Market Watch windowMetaTrader 4 Order window: MetaTrader 4 supports two methods of opening trades: Instant Execution and Pending Order.

7 Instant Execution does not need to request price quotes. Trades entered with Instant Execution go to the market at the current prices. Trades are executed via the Buy or Sell of your trades can be changed via the available menus in the Order window. Symbol - currency pair you wish to tradeMetaTrader4 USER GUIDEMetaTrader4 USER GUIDE15 Summary Volume - number of lots you wish to trade Stop Loss where you wish your stop loss to trigger Take Profit where you wish your take profit to trigger Comment notes you can enter to identify particular tradesThe new position will now be listed in the Trade tab of the Terminal a positionTo close a position, highlight the trade in the Trade tab of the Terminal window and right click to bring up the applicable menu GUIDE16 SummaryFrom here select Close order.

8 Double clicking on the open position in the Trade tab of the Terminal window has the same Order # window appears and clicking the Yellow button closes the trade at the price displayed on the button as shown in the image GUIDEMetaTrader4 USER GUIDE17 SummaryPlace/Modify/delete Stop Loss & Take Profit OrdersStop Loss closes an open position at a pre-defined level, in order to minimize trade losses if the market moves against your Profit closes an open position at a pre-defined level in order to take profit when the market moves in the direction of your Stop Loss and Take Profit orders serves as an extra level of risk and money management. Once the markets reach your pre-defined levels of loss or profit, open positions are closed management plays a significant role in trading success and the prudent use of Stop and Profit orders plays a fundamental part in managing both risk and profit within MetaTrader GUIDE18 SummaryModifying Stop Loss and Take Profit order can be done via the Trade tab:Right clicking on the open position or on the pending order in the Trade tabof the Terminal window and selecting Modify or delete order brings up theModify Order dialog:In the Modify Order dialog, the Symbol and Volume settings cannot be changed.

9 The order Type, defaults to Modify the desired Stop Loss and Take Profit levels from the drop-downs, applies these levels to the opening price of your trade. The Copy As buttons display the price your Stop Loss and Take Profit levels will be set as. Clicking the Copy As button for either order, sets the Stop Loss or Take Profit levels and depending on which type of order you are setting, copies the price to the Modify GUIDEMetaTrader4 USER GUIDE19 SummaryPressing the Modify button, modifies your 4 can also place Trailing Stop orders. These are used to adjust your Stop Loss and Take Profit orders as the market type of order can be used to protect and maximize profits and also minimize potential losses on your order to place a trailing stop, highlight the open position in the Trade tab of the Terminal window and right click to open the context OrdersA Pending Order is use to open a position when prices reach a pre-defined are four types of pending orders.

10 Buy Stop - an order to open a Buy position at a price higher than the current price level Sell Stop - an order to open a Sell position at a price lower than the current price level Buy Limit - an order to open a Buy position at a lower price than the current price level Sell Limit - an order to open a Sell position at a price higher than the current price levelMetaTrader4 USER GUIDE20 SummaryPending Orders can be placed in a variety of methods: right clicking on the Market Watch window or on the Trade tab of the Terminal window and selecting New order pressing the F9 button using the Tools -> New order dialog right clicking on the chart window and selecting Trading -> New Order from the dialog double clicking on the currency pair in the Market Watch windowPending orders can then be placed by selecting Pending Order from the menu following options may be changed in this window as well: Symbol - currency pair Volume - transaction size in lots Stop Loss - Stop Loss order levelMetaTrader4 USER GUIDEMetaTrader4 USER GUIDE21 Summary Take Profit - Take Profit order level Comment any comments for the particular order Type - the type of pending order.